Canada’s annual inflation rate in November fell to a three-year low of 0.8% on a smaller year-over-year increase in gasoline prices and lower prices for cars, Statistics Canada said on Friday.
Separately, the Canadian economy grew by just 0.1% in October from September, indicating a very slow start to the fourth quarter amid foreign and domestic economic woes.
Here’s what the economists say:
CARLOS LEITAO, CHIEF ECONOMIST AT LAURENTIAN BANK SECURITIES IN MONTREAL
“The CPI number is weaker than people had expected. I’m not particularly worried about that. These things happen. But it certainly gives the Bank of Canada all the room they need to stay on the sidelines for quite a while. I don’t think though that it will necessarily make them change their tone. They’re not going to do that, at least not yet. They’ll still say that at some point rates will go up, but…
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